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CORPORATE PUBLIC INFORMATION
GENERAL
ELECTRIC
3135 EASTON TURNPIKE FAIRFIELD, CONNECTICUT 05431
A. J. Demaris (203) 373-2002 (home) (303) 227-9166
FOR IMMEDIATE RELEASE
FAIRFIELD, CONNECTICUT, October 1, 1916. Reginald H. Jones, Chairman of General Electric Company, and Edmund W. Littlefield, Chairman of Utah International, Inc., announced today that they were very pleased that the Department of Justice has provided the companies with a favorable letter under its Business Advisory Clearance procedure. The Department stated that it ""does not presently intend to bring an action to enjoin the proposed merger"" of Utah with General Electric, Messrs, Jones and Littlefield also said that the proposed merger will be submitted to their respective share owners at separate meetings to be held in December 1976. Upon receipt of the share owners' approval it is the parties' present intention to complete the merger before the end of the year.
Utah and General Electric submitted a revised request for a Business Advisory Clearance letter to the Department of Justice on August 18, 1976. The revision responded to the Department of Justice's concerns expressed in its letter of July 23. At that time the Department noted the potential anti-competitive effects resulting from General Electric's role as a supplier of nuclear steam supply systems and Utah's role as a uranium mining and milling company. To resolve these concerns, the uranium assets and operations owned and conducted by Utah will be transferred to a new company wholly owned by the merged companies. The voting stock of
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CORPORATE PUBLIC INFORMATION
GENERAL
ELECTRIC
3135 EASTON TURNPIKE FAIRFIELD, CONNECTICUT 05431
A. J. Demaris (203) 373-2002 (home) (303) 227-9166
FOR IMMEDIATE RELEASE
FAIRFIELD, CONNECTICUT, October 1, 1916. Reginald H. Jones, Chairman of General Electric Company, and Edmund W. Littlefield, Chairman of Utah International, Inc., announced today that they were very pleased that the Department of Justice has provided the companies with a favorable letter under its Business Advisory Clearance procedure. The Department stated that it ""does not presently intend to bring an action to enjoin the proposed merger"" of Utah with General Electric, Messrs, Jones and Littlefield also said that the proposed merger will be submitted to their respective share owners at separate meetings to be held in December 1976. Upon receipt of the share owners' approval it is the parties' present intention to complete the merger before the end of the year.
Utah and General Electric submitted a revised request for a Business Advisory Clearance letter to the Department of Justice on August 18, 1976. The revision responded to the Department of Justice's concerns expressed in its letter of July 23. At that time the Department noted the potential anti-competitive effects resulting from General Electric's role as a supplier of nuclear steam supply systems and Utah's role as a uranium mining and milling company. To resolve these concerns, the uranium assets and operations owned and conducted by Utah will be transferred to a new company wholly owned by the merged companies. The voting stock of
(more)